ISLAMABAD: Federal Board of Revenue (FBR) to extend date for filing income tax return by one month i.e. October 31, 2020, sources said on Wednesday.
The last date for filing income tax return for tax year 2020 is expiring today evening i.e. September 30, 2020.
The date for filing income tax return may be extended for salaried persons, business individuals, Association of Persons (AOPs) and companies having special financial year.
The major reason for extending the date is very short time given to taxpayers to make compliance as FBR delayed the issuance of return form for tax year 2020.
However, delayed issuance of return form for tax year 2020 by the FBR has made it difficult for taxpayers to make compliance by due date.
Tax experts said that the taxpayers were still waiting to get withholding statements under various heads.
They also said that the taxpayers were less bothered about the due date for filing annual returns as for the past many years the FBR used to issue return form after lapse of time and extend the date.
Besides, tax bars are also demanding the FBR to instead extend the date the taxpayers should be given time as per law for filing their returns.
The FBR issued a finalized income tax return form on September 08, 2020 for taxpayers, which the tax bars said the form should be issued by the start of fiscal year giving around three months to taxpayers filing their returns, whose due date is on September 30.